Crypto stocks rebound after CLARITY Act vote fails

Crypto-linked stocks rebounded Friday after a selloff tied to the Senate’s failure to advance the CLARITY Act on Sept. 15. Strategy led gains, rising more than 13%, while Coinbase and American Bitcoin climbed about 11%. Robinhood gained nearly 9%. Other firms including Circle, Strive and miner Riot Platforms rose roughly 5% to 7%. Bitcoin traded near $80,800, about 5% higher over the prior 24 hours.

Those names had fallen earlier in the week after the Sept. 15 vote. Coinbase and Circle each dropped about 10%, Strategy and Strive fell roughly 5%, and American Bitcoin declined about 8% before Friday’s recovery.

U.S. regulators took several actions after the CLARITY Act did not advance. The Commodity Futures Trading Commission granted no-action relief to certain passive software providers. The Securities and Exchange Commission temporarily eased some requirements for platforms that facilitate on-chain trading of tokenized securities. The CFTC also submitted a preregulatory filing to the White House outlining plans for a crypto market regulatory action; the filing did not disclose details.

Friday’s gains were concentrated in firms with direct exposure to trading platforms, tokenization services and Bitcoin mining. Market trading on Friday reflected a rebound in prices for equities tied to spot trading and on-chain activity.